Bank Of Agriculture Ltd v. Alhaji Tajudeen Oduola & Ors (2025)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

BINTA FATIMA ZUBAIRU, JCA (Delivering the leading judgment)

This appeal is against the judgment of the High Court of Justice, Oyo State, sitting at Ibadan, delivered by Honorable Justice A. A. Aderemi on the 15th day of March, 2013, in suit No: I/355/2004, judgment was entered in favour of the respondents against the appellant.

Irritated by the decision, the appellant filed a further amended notice of appeal on the 15th day of November, 2021, in which the appellant set out five (5) grounds of appeal.

The facts birthing to this appeal can be briefly summarized thusly: The 1st and 2nd respondents were the claimant at trial court, while the appellant and the 3rd respondent were the defendants at the trial court.

Sometimes in 1993, the 1st respondent took an Agricultural loan of N231,786.20k (Two Hundred Thirty One Thousand, Seven Hundred and Eighty Six Naira, Twenty Kobo) for cultivation of 15 hectares for maize plantation and 30 hectares of maize mixed cassava intercropping.

The 2nd respondent was the guarantor of the loan who released his property to serve as a collateral for the loan facility and it was agreed by the parties that the loan must be repaid within four years. The 1st and 2nd respondents could not repay the loan until its expiration in 1997.

It was the claim of the 1st and 2nd respondents that after an attempt from the appellant to sell the property, they approached the trial court to restrain the appellant (who was the 1st defendant at the trial court) from selling the property to a third party.

By the claimants amended writ of summons dated 22nd June, 2011, the 1st and 2nd respondents claim against the appellant at the trial court are as follows:

a. A declaration that the Deed of Legal Mortgage registered as No. 12 at page 12 in Volume 3122 of the Lands Registry in the Office at Ibadan and dated 19th of December, 1993 is invalid, null and void.

b. Alternatively (i) A declaration that the Deed of Legal Mortgage registered as No. 12 at page 12 in volume 3122 of the Lands Registry in the office at Ibadan and dated 1st of December, 1993 stands dissolved and expired when the 1st claimant repaid the loan for which the mortgage was a security.

c. A declaration that the 1st claimant, having fully discharged his indebtedness to the 1st defendant, the sale of the 2nd claimant’s property at Plot 7 Block 6, Chief J.O. Lanyonu Layout, Off Iwo Road, Monatan, Ibadan covered by certificate of Occupancy dated 12/12/92 and registered as No 13 at page 13 volume 3084 of the Lands Registry, Ibadan, used as security for the loan taken by the 1st claimant is null and void.

d. A declaration that the amount debited to the 1st claimant’s account by the 1st defendant is not a true and correct reflection of the position of the 1st claimants account.

e. An order setting aside the sale of the 2nd claimant’s property and directing the 1st defendant to execute a deed of release in favour of the claimants.

f. An order directing the 1st defendant to refund to the 1st claimant the amount which the 1st claimant has overpaid to the 1st defendant.